On Thursday the market opened with a bearish bias, but relentless buying by the Fed buy programs pushed the market up, NQ just stopped shy of the prior swing high before seller came in and sold it hard, but another rounds of buy programs managed to push NQ back up to close near the high of the day.
With the Fed determined to hold the market up just to show that ending QE would not harm the market look for the buy programs to come in on any attempted sell-off. Whether or not they are able to hold the market up and even push it higher and higher, against global credit contraction, only time will tell.
Key price level for NQ on Friday is 4100.
-- Trading above 4100 is bullish, look for NQ to continue going higher.
-- NQ may try to sell-off again below 4100, supports are 4060, 4045, 4025.
